OmiseGo OMG – Jan 9 Technical Analysis, Long Entry $23-$34, Target 40% @ $32.50


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https://steemit.com/bitcoin/@philakonecrypto/omisego-omg-jan-9-technical-analysis-long-entry-usd23-usd34-target-40-usd32-50

OmiseGo was an underdog that moved up the ranks below the radar. Once debating about buying it or not at $6 was a solid investment is now a thing of the past.

Long Trade
Risk to Reward = 6:1
Entry Price = $23-$24 or upon breakout
Target 1 = $32.50
Target 2 = $35.00
Stop Loss = $20.00
Chain to gain = 38%
Chance to lose = 6.38%

Here we have a solid risk to reward setup that can yield incredibly high returns with little risk. Based on Elliot Wave, I’m predicting one more subwave to finish the 3rd primary.

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Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don’t understand this, and expect only to having winning trades, will always lose money over time.

The ultimate goal is to help the crypto community because I think there’s a lack of these type of videos. I want to share everything I’ve learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

I’m not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I’m simply stating my opinions and what I personally look for. Those that follow my trades blindly and don’t understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we’ve entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren’t made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.